Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.58 Consensus Price Target from Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) have earned an average rating of "Reduce" from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $1.58.

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Piper Sandler cut their price target on Polestar Automotive Holding UK from $2.00 to $1.50 and set a "neutral" rating for the company in a report on Wednesday, September 4th. Sanford C. Bernstein raised their price objective on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an "underperform" rating in a research note on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th.

Polestar Automotive Holding UK Trading Up 3.6 %

NASDAQ PSNY traded up $0.04 during trading on Friday, hitting $1.14. 6,108,971 shares of the company traded hands, compared to its average volume of 3,867,115. Polestar Automotive Holding UK has a 12 month low of $0.61 and a 12 month high of $2.65. The business has a fifty day simple moving average of $1.39 and a 200 day simple moving average of $1.09. The company has a market capitalization of $2.43 billion, a P/E ratio of -2.00 and a beta of 1.54.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of hedge funds and other institutional investors have recently bought and sold shares of PSNY. Geode Capital Management LLC lifted its position in shares of Polestar Automotive Holding UK by 444.0% in the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company's stock valued at $1,471,000 after buying an additional 697,820 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Polestar Automotive Holding UK in the third quarter valued at about $468,000. XTX Topco Ltd lifted its holdings in shares of Polestar Automotive Holding UK by 91.5% during the 3rd quarter. XTX Topco Ltd now owns 288,564 shares of the company's stock worth $496,000 after acquiring an additional 137,907 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Polestar Automotive Holding UK by 125.4% in the 3rd quarter. Captrust Financial Advisors now owns 46,615 shares of the company's stock valued at $80,000 after purchasing an additional 25,930 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Polestar Automotive Holding UK by 134.4% in the third quarter. MetLife Investment Management LLC now owns 15,390 shares of the company's stock valued at $26,000 after acquiring an additional 8,823 shares during the last quarter. Institutional investors and hedge funds own 1.02% of the company's stock.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.